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Dec 29, 2012
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obama met congressional leaders at the white house on friday to discuss a deal. he said the talks were constructive, but did issue a warning on behalf of the american people, demanding congress take action. >> america wonders why it is that in this town, for some reason, you cannot get stuff done in an organized time table, where everything has to wait till the last minute. we are now of the last minute. in the american people are not going to have any patients for a politically self-inflicted wound to our economy. >> the president said he was modestly optimistic that the january 1 deadline for the fiscal cliff could be averted, but that is contingent on a vote in the senate on a compromise bill, and that will have to get an up or down vote. there is a majority for that, with some tax increases for upper-income people. the question is what level would be acceptable to republicans. more crucial to that is, whatever the senate proposes and passes on to the house, will it be acceptable to the majority of republicans in the house, who control that body? if it is not,
obama met congressional leaders at the white house on friday to discuss a deal. he said the talks were constructive, but did issue a warning on behalf of the american people, demanding congress take action. >> america wonders why it is that in this town, for some reason, you cannot get stuff done in an organized time table, where everything has to wait till the last minute. we are now of the last minute. in the american people are not going to have any patients for a politically...
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Dec 31, 2012
12/12
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one economist says it is likely that president obama will negotiate a temporary deal. >> the importance of the u.s. this cliff is extremely -- u.s. fiscal cliff is extremely high. the main growth engines are firstly china, which will grow at about 8%. the u.s. is still very important. we are expecting growth of about 2%. if the u.s. goes off of this book with and you have very weak growth, that will be a huge dent in the global outlook and will have transmission of sex to the rest of the global economy at that time when the eurozone is still in recession in japan has also slid into recession. the risk is that this negotiation process could be protracted. i think president obama is proposing the concept of a fallback option, which would at least deliver some of the extension of the tax cuts and also unemployment benefits, which is very important. if the unemployment benefits cease after the first of january, that has an immediate impact on expenditure in the u.s. on about 2 million unemployed people. i think he is going to try to put together a skeleton deal to at least bridge the gap wh
one economist says it is likely that president obama will negotiate a temporary deal. >> the importance of the u.s. this cliff is extremely -- u.s. fiscal cliff is extremely high. the main growth engines are firstly china, which will grow at about 8%. the u.s. is still very important. we are expecting growth of about 2%. if the u.s. goes off of this book with and you have very weak growth, that will be a huge dent in the global outlook and will have transmission of sex to the rest of the...
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Dec 29, 2012
12/12
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president obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by monday. that is just two days before 6 under billion dollars of automatic tax hikes and spending cuts begin to take effect -- $600 billion of automatic tax hikes and spending cuts take effect. >> we want to make sure that unemployment insurance is still available for 2 million people and lay the groundwork for additional deficit reduction and economic growth steps to take in the new year. but let's not miss this deadline. >> we are working hard to get there in the next 24 hours. i'm hopeful and optimistic. >> whenever we come up with will be imperfect. some people will not l
president obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by...
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Dec 31, 2012
12/12
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>> barack obama calls for compromise as the u.s. approaches the brink of another economic crisis. in a rare appearance on a u.s. talk show he appealed to congress to make a deal to avoid tipping the country into recession. you're watching al-jazeera live from london. also coming up, 21 policemen are buried in pakistan after being kidnap and shot by the taliban. anger and grief in india. candlelit vigils continue as the 22-year-old gang rape victim is cremated. plus moments of impact -- amateur video captures a russian plane after it overshoots a runway and crashes into a motorway. hello, president obama has made another appeal to the u.s. congress to reach an agreement in the next 48 hours to avoid the so-called fiscal cliff. it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cu
>> barack obama calls for compromise as the u.s. approaches the brink of another economic crisis. in a rare appearance on a u.s. talk show he appealed to congress to make a deal to avoid tipping the country into recession. you're watching al-jazeera live from london. also coming up, 21 policemen are buried in pakistan after being kidnap and shot by the taliban. anger and grief in india. candlelit vigils continue as the 22-year-old gang rape victim is cremated. plus moments of impact --...
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Dec 28, 2012
12/12
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senator reid says there is no time to reach a deal. mr. mcconnell says he is more optimistic. then from the republican controlled house of representatives, the top republican john boehner has rejected president obama's previous offers and the morse -- most senior democrat in the house, nancy pelosi. what is the cliff and can be avoided? >> the house of representatives will be going back into session sunday but at this point we do not know what kind of measure they have before them that they can consider for a vote. there has been no indication from the white house or the republican leadership that they are anywhere near any kind of makings of a deal that they could present to the house republican leadership -- or the house republican rank-and-file who so far have been adamantly opposed to tax increases at any level of income, which is an absolute prerequisite for president obama. if they do not come to some kind of agreement, but that tax to be voted on -- and there is doubt that it is logistically possible before new year's day -- then the most immediate impact would be the l
senator reid says there is no time to reach a deal. mr. mcconnell says he is more optimistic. then from the republican controlled house of representatives, the top republican john boehner has rejected president obama's previous offers and the morse -- most senior democrat in the house, nancy pelosi. what is the cliff and can be avoided? >> the house of representatives will be going back into session sunday but at this point we do not know what kind of measure they have before them that...
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Dec 28, 2012
12/12
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your sense of whether president obama and your fellow democrats in the senate and house will stay the course on this or will eventually compromise in a way that many progressives would regret? >> first of all, we have a divided government. president obama's election said one message, the election of republican house of representatives since another. the actually, working at odds here. you have republicans who will not raise taxes for anyone making more than $250,000 a year, and looking at entitlement cuts. yet democrats that say you have any taxes for those who make under $250,000 and no cuts to the low-you had democrats as a you have no taxes for those -- no tax cuts for those making under $250,000. we're going the wrong direction. why have we been talking about stimulating the economy through jobs? we seem to accept a certain amount of unemployment as being necessary for the proper functioning of the economy, so that for corporations and will keep wages low. that is baloney. we are creating our own economic vice that is entrapping tens of millions of americans. i find it unacceptabl
your sense of whether president obama and your fellow democrats in the senate and house will stay the course on this or will eventually compromise in a way that many progressives would regret? >> first of all, we have a divided government. president obama's election said one message, the election of republican house of representatives since another. the actually, working at odds here. you have republicans who will not raise taxes for anyone making more than $250,000 a year, and looking at...